The support zone of 1.3076 remains untouched, and the Cable’s bears are still struggling to extend the decline below that level. However, the 200 SMA on the H1 chart is still weighing on the pair, and that’s why we have been seeing some sideways moves ahead of the Fed’s interest rate decision due today in the American session’s afternoon. A breakout above the 1.3148 level will expose the 1.32266 price zone.
H1 chart’s resistance levels: 1.3148 / 1.3266
H1 chart’s support levels: 1.3076 / 1.2976
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.3148, take profit is at 1.3266 and stop loss is at 1.3026.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
The support zone of 1.3076 remains untouched, and the Cable’s bears are still struggling to extend the decline below that level. However, the 200 SMA on the H1 chart is still weighing on the pair, and that’s why we have been seeing some sideways moves ahead of the Fed’s interest rate decision due today in the American session’s afternoon. A breakout above the 1.3148 level will expose the 1.32266 price zone.
H1 chart’s resistance levels: 1.3148 / 1.3266
H1 chart’s support levels: 1.3076 / 1.2976
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.3148, take profit is at 1.3266 and stop loss is at 1.3026.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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